Analysts at Credit Suisse raised their rating of Merck to outperform from neutral, citing a promising product pipeline. The analysts also raised their price target to $47 a share from $35.

Late Tuesday, Merck Chief Executive Officer Richard Clark told investors at a conference in San Francisco that 10 of the company's products were on track to generate at least $1 billion each in sales for 2009.

According to Dow Jones Newswires, Pharmacyclics management has been actively meeting with potential investors, which has renewed interest in the stock.

Charles River Laboratories shares leaped 5% to $37.66.

Earlier this week, the research services group said it was suspending operations at one of its pre-clinical testing facilities due slow business. The move is seen as saving the company around $20 million in 2010.

Charles River, which will take a $7 million charge for the first quarter related to the shut-down, said it can bring the operation back on-line when business picks up.

Watson Pharmaceuticals shares rose 3% to $40.74.

The drugmaker said Wednesday that it expects to report an increase in net revenues of approximately 9% to more than $2.7 billion for 2009, compared to 2008, and that adjusted earnings per share are expected to meet or exceed the forecast the company provided in November 2009. Analysts polled by FactSet Research, on average, estimated 2009 sales of $2.72 billion and earnings of $2.57 a share

Shares of Inhibitex Inc.
INHX
were up significantly earlier in the day, but reversed course to rest at the flat-line.

Inhibitex's stock had been on a roll since Monday, when it and partner Pfizer Inc. announced they had begun Phase I testing of a new vaccine against staph infections.

Inhibitex also said Monday that a board of independent safety monitors has recommended a Phase II clinical trial for its antiviral drug FV-100 be allowed to continue. The compound is being tested for the treatment of shingles.

On the downside, shares of Targeted Genetics
TGEN, +0.51%
plunged almost 35% to 21 cents a share.

The Seattle-based biotech group said that it has determined that the expense associated with maintaining its Nasdaq-listed status outweighs the benefits for shareholders.

Targeted Genetics added it expects Nasdaq to delist its shares by Feb. 1. The company said that while it anticipates its shares would then be traded over the counter, it cannot guarantee the shares will trade over any exchange.

Intraday Data provided by SIX Financial Information and subject to terms of use.
Historical and current end-of-day data provided by SIX Financial Information. Intraday data
delayed per exchange requirements. S&P/Dow Jones Indices (SM) from Dow Jones & Company, Inc.
All quotes are in local exchange time. Real time last sale data provided by NASDAQ. More
information on NASDAQ traded symbols and their current financial status. Intraday
data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. S&P/Dow Jones Indices (SM)
from Dow Jones & Company, Inc. SEHK intraday data is provided by SIX Financial Information and is
at least 60-minutes delayed. All quotes are in local exchange time.